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China's property investment for 2011 soars 27.9%

Jan. 18, 2012 (China Knowledge) - China saw real estate investment reach RMB 6.17 trillion in 2011, reflecting a year-on-year increase of 27.9%, but the growth was 5.3 percentage points lower than an increase of 33.2% in 2010, according to National Bureau of Statistics.

In the first 11 months of last year, the country's property investment grew 29.9% from two years ago, while the investment in December alone stood at RMB 624 billion, up 12.3% year on year.

Investment in residential properties for 2011 totaled RMB 4.43 trillion, accounting for 71.8% of the total or surging 30.2% from 2010, but the growth was 2.6 percentage points lower than in the 11 months.

Last year, China's property investment increased 27.2% year on year to RMB 3.56 trillion in East China, grew 25.5% from a year earlier to RMB 1.32 billion in Central China and soared 32.8% year on year to RMB 1.29 trillion in West China.

The country started 1.9 billion square meters of properties in 2011, up 16.2% more than that in 2010. Property sales revenue increased 12.1% year on year to RMB 5.91 trillion in China last year, sources reported.

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